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Weekly forecast New Zealand Dollar / US Dollar technical chart
Symbol NZDUSD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.6690 to 0.6610). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.6690)
    • Support on 07/02/2018
    • Trough on 07/03/2018
    • Support on 07/03/2018
    • Resistance on 08/21/2018
    • Resistance on 08/24/2018
    • Resistance on 09/20/2018
    • Resistance on 09/21/2018
    • Resistance on 09/24/2018
    • Resistance on 09/26/2018
    • Resistance on 11/02/2018
  • Ending of entry zone (0.6610)
    • Resistance on 08/14/2018
    • Resistance on 08/16/2018
    • Support on 08/31/2018
    • Resistance on 09/04/2018
    • Resistance on 09/06/2018
    • Resistance on 09/18/2018
    • Support on 09/20/2018
    • Support on 09/27/2018
    • Support on 09/28/2018
    • Resistance on 10/19/2018
    • Peak on 10/22/2018
    • Resistance on 10/22/2018

DateNovember 10, 2018 - 17:24
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 0.64300 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.6544 on 2018-08-15 and the trough at 0.6424 on 2018-10-08, the probability of downtrend continuation is decreased and the probability of continuation of uptrend is increased.
  • The RSI resistance #1 at 59 is broken, so the probability of continuation of uptrend is increased.
  • While the RSI uptrend #2 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 0.6465 on 10/26/2018, so more gains to resistance(s) 0.6800, 0.6910, 0.7025 and more heights is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 65.

Take Profits:

  1. 0.6800
  2. 0.6910
  3. 0.7025
  4. 0.7175
  5. 0.7435
  6. 0.7560
Click on the level to view price action history.